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  • Press Release

    AAMC Statement on Senate Passage of the Inflation Reduction Act of 2022

    Press Contacts

    John Buarotti, Sr. Public Relations Specialist

    AAMC (Association of American Medical Colleges) President and CEO David J. Skorton, MD, issued the following statement regarding the passage of the Inflation Reduction Act by the U.S. Senate. The bill would extend the Affordable Care Act subsidies through 2025 and reduce prescription drug costs, among other provisions:

    “The AAMC applauds the Senate for passing the Inflation Reduction Act of 2022, which would benefit patients, communities, and families by increasing access to care nationwide by extending Affordable Care Act (ACA) premium tax credits and helping to address the issue of high prescription drug prices.

    The legislation would invest $64 billion to extend the expansion of ACA premium tax credits through 2025. The subsidies, which ensure access to care for millions of people, were originally extended through 2022 under the American Rescue Plan Act of 2021. As the COVID-19 pandemic has highlighted many disparities in access to coverage and care, we commend senators for agreeing on a bill that will allow patients and families to maintain access to affordable coverage, empowering them to seek care before treatable conditions become more complicated and costly. Additionally, the high cost of prescription drugs often prevents patients from obtaining the medications they need. We support efforts to lower drugs costs and increase access to affordable medications.

    The AAMC urges the U.S. House of Representatives to pass this legislation swiftly to improve the health of patients and communities nationwide.” 

    The AAMC (Association of American Medical Colleges) is a nonprofit association dedicated to improving the health of people everywhere through medical education, health care, medical research, and community collaborations. Its members are all 158 U.S. medical schools accredited by the Liaison Committee on Medical Education; 13 accredited Canadian medical schools; approximately 400 academic health systems and teaching hospitals, including Department of Veterans Affairs medical centers; and more than 70 academic societies. Through these institutions and organizations, the AAMC leads and serves America’s medical schools, academic health systems and teaching hospitals, and the millions of individuals across academic medicine, including more than 193,000 full-time faculty members, 96,000 medical students, 153,000 resident physicians, and 60,000 graduate students and postdoctoral researchers in the biomedical sciences. Following a 2022 merger, the Alliance of Academic Health Centers and the Alliance of Academic Health Centers International broadened participation in the AAMC by U.S. and international academic health centers.